Canadian Natural Resources Limited acquires, explores, develops, produces, markets and sells crude oil, natural gas and natural gas liquids (NGL). The company is headquartered in Calgary, Canada.
| Revenue (TTM) | $44.68B |
| Gross Profit (TTM) | $23.04B |
| EBITDA | $19.13B |
| Operating Margin | 43.10% |
| Return on Equity | 26.70% |
| Return on Assets | 7.91% |
| Revenue/Share (TTM) | $21.45 |
| Book Value | $16.35 |
| Price-to-Book | 3.13 |
| Price-to-Sales (TTM) | 2.33 |
| EV/Revenue | 3.112 |
| EV/EBITDA | 6.72 |
| Quarterly Earnings Growth (YoY) | 83.80% |
| Quarterly Revenue Growth (YoY) | 69.50% |
| Shares Outstanding | $2.06B |
| Float | $2.01B |
| % Insiders | 2.16% |
| % Institutions | 78.27% |
Volatility is currently contracting
CNQ's record production, low-cost oil sands assets and growth initiatives support its outlook, but commodity risks and a Horizon turnaround warrant caution.
Canadian Natural Resources excels as a low-cost oil producer, capitalizing on oil price volatility and minimal Middle East exposure. Q2 saw CNQ generate $2.9 billion in free cash flow, sharply increasing buybacks and progressing toward a 100% free cash flow return to shareholders. Management anticipates reaching the 100% free cash flow return threshold by year-end if oil price volatility persists.
Canadian Natural raised its 2026 production outlook again while keeping operating capital at C$5.99B, putting capital efficiency and execution in focus.
Canadian Natural Resources Limited delivered strong Q2 results, with 18% production growth and a 60% revenue increase, supported by favorable oil prices. CNQ's adjusted funds flow reached CAD$6.9 billion, translating to a 20% AFFO yield and a 15% free funds flow yield after capital expenditures. Net debt declined to CAD$14.5 billion, positioning CNQ to soon reach its CAD$13 billion target and unlock even greater shareholder returns.
CNQ's Q2 earnings and revenues beat estimates as higher production and oil and NGL prices lift results and 2026 guidance.
Canadian Natural's Q2 call lifts 2026 production guidance after record output, keeps capital at C$6B and major growth projects on hold pending MOU terms.
Canadian Natural Resources Limited (CNQ:CA) Q2 2026 Earnings Call Transcript
The headline numbers for Canadian Natural Resources (CNQ) give insight into how the company performed in the quarter ended June 2026, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
KMI, CVX and CNQ pair dependable dividends with scale, resilient operations and financial strength amid volatile oil prices and elevated supply risks.
Canadian Natural Resources (CNQ) came out with quarterly earnings of $1.58 per share, beating the Zacks Consensus Estimate of $1.43 per share. This compares to earnings of $0.51 per share a year ago.
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